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High Court set foot in the conclusion made by the Kerala based Authority for Advance Ruling (AAR) to weed away the argumentative confusions related to composite supply under the GST regime. Experts assume that the ruling will become guidelines to conclude the cases associated with composite litigation. The case is related to Abbott HealthCare which […]
Finance Minister Nirmala Sitharaman told that the government will iron out issues bothering traders under the Goods and Services Tax (GST) regime and that GST would be additionally simplified, on Tuesday in a CAIT (Confederation of All India Traders) program. Budget preparation is in full swing, keeping the relief for the taxpayer at greatest importance. […]
Sa-Dhan, an association of Microfinance Institutions (MFIs), has asked the Government to exempt the microfinance industries of GST as this industry offers its services to the low- income group. The Association Executive Director, P. Satish said that imposing GST will be against the government’s policy on financial inclusion. Mr. P Satish Reiterated that in case […]
The department under GST is finally extending notices to on business whose accounts are required to get audited as per the norms. Cordial notices are being sent by the government to businesses for the first year of GST (2017-18). There are three basic kinds of audits under GST, the first one focuses on the business […]
Finance Minister Nirmala Sitharaman at the National Traders Convention of the Confederation of All India Traders (CAIT) spoke in favour of traders, taking cognizance of the problems faced by the traders in the present taxation system. FM highlighted that the traders bring in tax revenue and the government would never want to annoy them with […]
State and Central GST chief commissioners finalized a nine-point plan to nose-dive the revenue leakages under the goods and services tax mechanism, in a meeting that was held on Tuesday under the chairmanship of revenue secretary Ajay Bhushan Pandey. This action plan will include a standard procedure formulated by Centre and State level tax officials […]
Recently in a bid to wake up the motivation to go for a clean fuel green vehicle, the oil ministry asked for a rate reduction on the CNG vehicles from 28% to 5%. The lower 5% GST is applicable to electric vehicles as of now and the ministry thinks that the lowered rate may help […]
Goa government is all set to enter the year 2020 with strict augmentations to curb tax evasionTax sleuths have planned a fresh crackdown on traders practising tax evasion of Goods and Services Tax (GST) by pursuing new registration for their businesses and growth in the percentage of the state’s revenue. The meeting headed by State’s […]
The total of 245 Star Export Houses and 5,000 other exporters went alienated from claiming their shares of Input Tax Credit (ITC) from the government due to taxman’s heavy investigations. On the other hand, amidst the existing exports decline, merchandise exports declined by 0.34% year-on-year in November consistently for the fifth time in the past […]
